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Charitable
IRA
Rollover
Resource Center |
On
October 6, 2008, the Emergency Economic Stabilization Act
was signed into law. That legislation included an extension
of the IRA Charitable Rollover provision that was originally
passed as a part of the Pension Protection Act of 2006, and
which had previously expired on December 31, 2007. The IRA
Charitable Rollover has been extended through December 31,
2009.
The following
resources are provided to help you understand the IRA Charitable
Rollover. The Partnership for Philanthropic Planning will add additional resources as they become
available.
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Disclaimer: The views expressed in these papers are those of
the authors and do not necessarily reflect the opinions of
the
Partnership for Philanthropic Planning, its staff or its board members.
The Partnership does not
guarantee the accuracy of the authors’ comments, and none of
the material in these resources should be construed as legal
advice. Readers are urged to consult their own legal counsel
regarding any information found herein. |
Research and Statistics
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Click
here to enter data about IRA distributions received
since the passage of the Emergency Economic
Stabilization Act on October 6, 2008. This survey allows
you to enter totals for the number and dollar value of
gifts you have received; you do not need to enter data
on individual distributions. Please return to the link
periodically to report distributions received since the
previous survey response.
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Results of
the Partnership's IRA gift survey. Click
here
for data on distributions authorized by the Pension
Protection Act of 2006, covering the period from January
1, 2006, through December 31, 2007.
Coming soon―data
on distributions authorized by the Emergency Economic
Stabilization Act of 2008, covering the period from
January 1, 2008 through December 31, 2009.
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IRS
Forms and Procedures
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The
IRS provided guidance on the “Charitable IRA
Rollover” provision as originally enacted in the Pension
Protection Act of 2006. The information is
contained at the end of Notice 2007-7;2007-5 IRB 1. The
Full text appears at
www.irs.gov/pub/irs-drop/n-07-07.pdf, or by clicking
here.
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The IRS explained how to report the “Charitable IRA
Exclusion” on 2006 Income Tax Returns. Click
here
for the Form 1040
instructions (see page 25 for the IRA Rollover
information).
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The corrected
version of the
2006 Instructions for Forms 1099-R and 5498
(Rev. October 2006) is available for download
(PDF version). This addresses Section 1201 of
the Pension Protection Act of 2006, which allowed
certain account holders to direct a tax-free distribution to a qualified charity from a
traditional IRA or Roth IRA.
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Overview and Analysis
Congressional Resources
Web Sites Reporting
Charitable IRA Rollover News
